1. The Five Whys
In an effort to discover the intentionality and reasoning behind financial decisions or indecisions, try to ask "why" 5 times.
"Why did you, _________________ (buy, purchase, fund, not-fund, invest, own, insure, borrow, include, leave out), this financial instrument."
2. The Four Frames for Interpreting Household Structural Integrity
Deliver more for your client in your client meeting. Step back to view the entire Asset-Map. Come at their map from four perspectives.
"Let’s examine the investment, insurance, legal and tax implications of how you’ve structured your life."
Professional Point of View | Examples |
🔎 Investment | "Who manages that?" "What's your risk tolerance?" "Is this investment meeting your goals?" |
🔎 Insurance | "Your #1 asset is your earned income. What coverage do you have if that goes away?" |
🔎 Legal | "Who is the beneficiary of this [financial]?" "Why are there no wills in place?" |
🔎 Tax | "Why is this asset in the trust but not that one?" |
3. Six Lenses (Financial Fire Drills - the 6 Ls)
What's the plan in the event that one of these six financially disruptive events happens?
Found on the Household's Reports page, the Financial Fire Drills explores the options and viability of the client's plans to handle major disruptive financial events. Here's a deeper dive.
Watch a webinar on this topic: Frameworks of an Asset-Map
Tags: frame work; framework, view, analyze
9/2021